Directions and Trends in Industrial Organization: A Review Essay on the Handbook of Industrial Organization

Alvin K. Klevorick

AKK

Alvin K. Klevorick

Discussants: Paul MacAvoy and

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Paul MacAvoy

Sam Peltzman

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Sam Peltzman

THE HANDBOOK OF INDUSTRIAL ORGANIZATION is mistitled. At the very least, the volumes produced by Richard Schmalensee and Robert Willig and their cadre of authors are a Two-hand book. Indeed, given the weight of each volume, it would be more appropriate to call the product a Two-arm book. (This is not to be confused with the two-armed bandit of probability theory and consumer search theory, although those aware of the $157 price tag might question whether I have too quickly dismissed the latter appellation.)